JAKARTA - PT Indah Kiat Pulp & Paper Tbk (INKP) will issue Sustainable Bonds I Phase III 2020 worth IDR 3.55 trillion. The Bond Offering will be made on December 3-4, 2020.
Quoted from a brief prospectus published on Monday (23/11), these bonds will be issued in three series. Series A worth IDR 504.63 billion with an interest rate of 8.50% per annum for 370 days, Series B worth IDR 2.46 trillion with a fixed interest rate of 10% per annum for three years, and Series C IDR 582.71 billion with an interest rate of 11% per annum for a period of five years.
As for the benefits of funds from the issuance of these bonds: 60% for the payment of installments of principal debt and company interest and 40% for the purchase of raw materials, production supporting materials, fuel, packaging goods, and overhead costs.
The underwriters appointed are PT BCA Sekuritas, PT Binaartha Sekuritas, PT Sinarmas Sekuritas, PT Sucor Sekuritas, and PT Trimegah Sekuritas Indonesia Tbk (TRIM), while the trustee is PT Bank Bukopin Tbk (BBKP). The Indonesian Securities Rating Agency (Pefindo) assigns an IdA + (single A plus) rating for the company regarding the bond issuance plan. (LK/VA)